Bumble Inc. (NASDAQ:BMBL) Receives $8.38 Consensus Target Price from Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have been given a consensus recommendation of “Hold” by the eighteen analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $8.38.

A number of research firms recently issued reports on BMBL. The Goldman Sachs Group raised their target price on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price objective on Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Piper Sandler reissued a “neutral” rating and set a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Hsbc Global Res lowered Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered Bumble from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $7.00 in a report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMBL. Innealta Capital LLC acquired a new position in shares of Bumble in the 2nd quarter worth approximately $64,000. SG Americas Securities LLC bought a new stake in Bumble in the third quarter valued at $71,000. Capital Management Associates Inc acquired a new position in Bumble during the third quarter worth $74,000. D.A. Davidson & CO. bought a new position in shares of Bumble during the third quarter valued at $77,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Bumble in the 2nd quarter valued at $82,000. Institutional investors own 94.85% of the company’s stock.

Bumble Stock Down 4.4 %

Shares of Bumble stock opened at $7.87 on Friday. Bumble has a 12-month low of $4.80 and a 12-month high of $15.90. The company has a quick ratio of 2.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average price of $6.94 and a two-hundred day moving average price of $8.52. The stock has a market capitalization of $851.38 million, a P/E ratio of -1.61 and a beta of 1.62.

Bumble Company Profile

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.